Townsquare Capital LLC Has $3.20 Million Stake in Trane Technologies plc (NYSE:TT)

Key Points

• Townsquare Capital LLC has significantly increased its stake in Trane Technologies plc by 149.2% during the first quarter, bringing its total holdings to 9,503 shares worth approximately $3.20 million.
• Institutional investors collectively own 82.97% of Trane Technologies, with notable changes from firms like Citigroup and Zions Bancorporation making new investments during the same quarter.
• Trane Technologies recently announced a quarterly dividend of $0.94 per share, representing an annualized yield of 0.9%, with the ex-dividend date set for September 5th.

Townsquare Capital LLC grew its position in Trane Technologies plc (NYSE:TT - Free Report) by 149.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,503 shares of the company's stock after purchasing an additional 5,690 shares during the quarter. Townsquare Capital LLC's holdings in Trane Technologies were worth $3,202,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Zions Bancorporation National Association UT acquired a new stake in Trane Technologies during the first quarter worth approximately $880,000. Locust Wood Capital Advisers LLC acquired a new stake in Trane Technologies during the first quarter worth approximately $758,000. Forsta AP Fonden grew its position in Trane Technologies by 0.7% during the first quarter. Forsta AP Fonden now owns 74,700 shares of the company's stock worth $25,168,000 after buying an additional 500 shares in the last quarter. Savvy Advisors Inc. lifted its stake in Trane Technologies by 28.4% during the first quarter. Savvy Advisors Inc. now owns 1,045 shares of the company's stock worth $352,000 after purchasing an additional 231 shares during the last quarter. Finally, Citigroup Inc. lifted its stake in Trane Technologies by 53.4% during the first quarter. Citigroup Inc. now owns 249,317 shares of the company's stock worth $84,000,000 after purchasing an additional 86,756 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Northcoast Research cut Trane Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, August 1st. Royal Bank Of Canada upped their target price on Trane Technologies from $463.00 to $467.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. HSBC cut Trane Technologies from a "buy" rating to a "hold" rating and upped their target price for the stock from $415.00 to $460.00 in a research note on Thursday, July 31st. Finally, Stephens upgraded Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price for the company in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $458.60.

Trane Technologies Stock Performance

NYSE TT opened at $428.22 on Tuesday. The company has a market capitalization of $95.28 billion, a price-to-earnings ratio of 33.96, a PEG ratio of 2.68 and a beta of 1.09. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $476.18. The stock has a fifty day simple moving average of $435.38 and a 200 day simple moving average of $390.02. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, beating analysts' consensus estimates of $3.79 by $0.09. The business had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.77 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%. Trane Technologies's quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $3.30 earnings per share. Sell-side analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, September 5th. Trane Technologies's dividend payout ratio is presently 29.82%.

About Trane Technologies

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.